This excerpt taken from the HMNF 8-K filed Jan 28, 2008.
Item 5.02 Departure of Directors or Principal Officers; Election of Directors; Appointment of Principal Officers.
On January 22, 2008, the Compensation Committee of the Board of Directors of the Company (the "Compensation Committee") exercised its discretion to pay cash bonuses to the Company’s following executive officers for their performance during 2007 in the following amounts:
Michael McNeil - $165,000
Bradley C. Krehbiel - $37,853
Jon J. Eberle - $33,443
Susan K. Kolling - $28,111
Dwain C. Jorgensen - $26,705
Of Mr. McNeil’s bonus, $45,000 was a discretionary bonus and $120,000 was a payment under his 2007 Bonus Plan.
2008 Bonus Plan
On January 22, 2008, the Compensation Committee adopted a cash bonus plan for Michael McNeil, the Company’s President and Chief Executive Officer. A description of this plan is filed as Exhibit 10 hereto and incorporated herein by reference.